House-Senate Financial Reform Conferees Agree on Hedge Fund Adviser Registration, Rating Agency Provisions

Conferees June 15-17 made some progress on the broad financial reform legislation, agreeing to provisions that would impact hedge…

BNA INSIGHTS: An Examination of the Private Equity Proposals in the Senate Reform Bill

Several proposals were introduced in 2009 and 2010 that seek to regulate exempt investment advisers and private investment companies more closely…

SEC’s Chicago Office Pioneers New Risk-Based Examination Process

The Securities and Exchange Commission’s Chicago Regional Office is leading the way in piloting what could become a key component of…

Sweeping Senate-Passed Reform Bill Would Boost Oversight of Hedge Funds, Credit Rating Agencies

After nearly three weeks of debate on the floor, the Senate May 20 passed, by a vote of 59 to 39, an historic bill that would achieve the most expansive overhaul of securities regulation since…

BNA INSIGHTS: ‘Pay-to-Play’ in the Financial Services Industry: Current Developments and Strategies to Reduce Risk

“Pay-to-play” concerns in the financial services industry were placed under a spotlight in 2009 as a result of scandals highlighted by an investigation of the New York State Common Retirement Fund…

Analysis: Trusts as Hedge Fund Investors? — Accredited Investor and Qualified Purchaser Rules for Trusts and Other Estate Planning Vehicles

Despite recent market conditions, hedge funds, private equity funds and similar alternative investments may continue to provide opportunities for fiduciaries seeking a well diversified…

Supreme Court Adopts ‘Gartenberg’ Standard for Deciding Whether Fund Fees Are Excessive

A unanimous U.S. Supreme Court concluded March 30 that “Gartenberg,” a 1982 appeals court decision, supplies the proper standard for determining whether investment advisory fees are excessive within the meaning of 1940 Investment Company Act Section 36(b)

Supreme Court Adopts ‘Gartenberg’ Standard for Deciding Whether Fund Fees Excessive

A unanimous U.S. Supreme Court concluded March 30 that “Gartenberg,” a 1982 appeals court decision, supplies the proper standard for determining whether investment advisory fees are excessive within the meaning of 1940 Investment Company Act Section 36(b) (Jones v. Harris Associates L.P., U.S., No. 08-586, 3/30/10).

SEC Review of Investment Company Use of Derivatives ‘Long Overdue,’ Official Says

The Securities and Exchange Commission’s recently announced initiative to review the use of derivatives by investment companies, including mutual and exchange-traded funds, is a significant move that was “long overdue,” Andrew Donohue, director of the SEC’s Division of Investment Management, said March 26.

Appeals Court Revives Investment Advisers Act Suit over Mutual Funds’ Sales Practices

The district court erred in dismissing class securities fraud claims that certain Citigroup affiliates made misleading disclosures about…

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